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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 03 October 18
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- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- PowerSource Philippines DevCo
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- London Commodity Brokers - England
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
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